Flotek Industries (NYSE:FTK) Releases Earnings Results, Beats Expectations By $0.01 EPS

Flotek Industries (NYSE:FTK) released its quarterly earnings results on Monday. The oil and gas company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01, Zacks reports. Flotek Industries had a net margin of 4.58% and a return on equity of 7.86%. The firm had revenue of $49.74 million during the quarter, compared to the consensus estimate of $50.40 million. During the same quarter in the prior year, the firm earned $0.04 EPS.

Flotek Industries Price Performance

Shares of FTK stock opened at $6.57 on Thursday. The company has a market capitalization of $195.85 million, a PE ratio of 25.27 and a beta of 1.04. The firm’s 50-day moving average is $4.84 and its two-hundred day moving average is $4.44. Flotek Industries has a 12 month low of $2.64 and a 12 month high of $6.71.

Analysts Set New Price Targets

FTK has been the topic of a number of research reports. Roth Mkm assumed coverage on Flotek Industries in a report on Thursday, July 25th. They issued a “buy” rating and a $6.50 price objective on the stock. Roth Capital raised shares of Flotek Industries to a “strong-buy” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $6.75.

About Flotek Industries

Flotek Industries, Inc operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally. It operates through two segments: Chemistry Technologies (CT) and Data Analytics (DA).